Here's another outlook for 2018. I use a simple trend strategy composed of fibo channels, multi-time period charts, and an RSI/MFL combo. I use this kind of comparative analysis on the weekly to gauge entry and exit levels, and to anticipate market performance over longer periods.
In the right chart we can see a megaphone pattern developing (very common pattern in crypto), so odds are $LTC will under-perform BTC in 2018 if this plays out. Why hodl this asset then? If we try to map out the rest of the megaphone pattern in the BTC chart, it could be a really good performer in 2019 when we get the rebound. But until then, we should find something else to try and hodl in 2018, and watch carefully for a LTC bottom against BTC. Dollar value may still perform well, but the USD chart also support an "under-performance" scenario as illustrated by 2016.
There will still be intraday opportunities to trade $LTC, but in terms of portfolio building let's see how things play out first.
PLEASE NOTE: Currently I hold no Litecoin, and this is not a recommendation to short or invest at the particular levels I have highlighted. This is simply my plan, which will become active or invalidated depending on market conditions at various points in time.
Cheers!
-Erik
In the right chart we can see a megaphone pattern developing (very common pattern in crypto), so odds are $LTC will under-perform BTC in 2018 if this plays out. Why hodl this asset then? If we try to map out the rest of the megaphone pattern in the BTC chart, it could be a really good performer in 2019 when we get the rebound. But until then, we should find something else to try and hodl in 2018, and watch carefully for a LTC bottom against BTC. Dollar value may still perform well, but the USD chart also support an "under-performance" scenario as illustrated by 2016.
There will still be intraday opportunities to trade $LTC, but in terms of portfolio building let's see how things play out first.
PLEASE NOTE: Currently I hold no Litecoin, and this is not a recommendation to short or invest at the particular levels I have highlighted. This is simply my plan, which will become active or invalidated depending on market conditions at various points in time.
Cheers!
-Erik
